Financial Library

Proposed Tax Overhaul for Private Corporations

Posted on: October 9, 2017

Standard financial and tax planning advice for the past several decades for business owners has included the use of incorporation to both insulate Canadians from business risk and liability and for asset building and income cash flow planning.

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tax

tax planning

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How's Your Net Worth?

Posted on: October 9, 2017

His banker asked Trent what his net worth was for a loan he was applying for. He had trouble answering the question right away.

What is Net Worth?

Quite simply, net worth is the difference between what you own and what you owe. But true net worth may not be quite that simple.

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financial strategies

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Will Your Estate Have Enough Cash?

Posted on: October 9, 2017

We've all heard that life has two certainties - death and taxes. You need to know the two often coincide. While Canada does not have an official death, estate or inheritance tax, there are some postponed taxes that become payable on death. There are other obligations that need to be taken into account as well. Without proper planning, an estate may have to face large and unexpected cash shortages. Consider:

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estate planning

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Era of Rising Interest Rates

Posted on: September 11, 2017

The recent increases in the Bank of Canada and Federal Reserve prime rate in the past few months signal the end of historically low interest rates. According to a Bank of England study released in early 2016, current low interest rates are the lowest in 5000 years of recorded history^*!

Media reports in July pointed to a Parliamentary Budget Office (PBO) report that warns the debt service ratio (the percentage of gross income needed to cover debt repayment costs) will move up by 3.5% by 2021 to 16.3% from the average of 12.9% seen between 1990 and 2017.

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debt management

interest rates

saving strategies

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Making the Most of Your TFSA

Posted on: September 11, 2017

Being such a new program, many Canadians do not fully understand the long-term power of the TFSA tax savings opportunities. It is much more than just an opportunity for saving — it can be a powerful and incredibly effective tool for an overall investment strategy. Here are some ways that you can use the TFSA for your long-term benefit and financial empowerment.

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tfsa

savings

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Helping Elderly Parents Manage Their Money

Posted on: September 11, 2017

It is always a difficult transition when people move from being the ones taking care of their family to the position where their family takes care of them. This is especially true when it comes to finances.

Because these changes usually happen very gradually, many adult children do not immediately recognize the need their parents may have for additional help with managing their finances. In many cases, aging parents simply don’t feel comfortable asking children or other family members for help.

Tags:

retirement planning

money management